Location: Shreveport-Bossier City, LA | Metro: Shreveport-Bossier City, LA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
The situation in ZIP code 71165, located in Louisiana, presents several challenges for both renters and landlords. The median income data for this area is currently unavailable, making it difficult to assess the financial stability of potential tenants. However, the market rate for rent is also listed as N/A, which suggests there may be limited data on typical rental prices in this region.
Despite these gaps in information, we do have specifics regarding the housing voucher program. For fiscal year 2024, the Fair Market Rent (FMR) standard for ZIP 71165 is set at $1030. This figure represents the maximum amount that voucher holders can pay toward their rent. If the actual market rates in the area are higher, then voucher recipients will struggle to find suitable accommodation without additional support from landlords.
The percentage of renters and the total population for ZIP 71165 are also unspecified, but these missing details highlight the need for landlords to understand the local rental market deeply. Without clear data on the number of renters, it's challenging to gauge the level of competition among landlords for tenants who can pay the full market rate versus those relying on vouchers.
The affordability gap becomes evident when comparing the FMR of $1030 against likely market rates. If market rents exceed this amount, many renters will be unable to cover the difference, leading to increased demand for subsidized housing options. This scenario could result in a competitive environment where landlords must decide whether to accept lower payments through vouchers or seek out tenants who can pay more but may be fewer in number.
Takeaway for Landlords: In ZIP 71165, the decision to accept voucher tenants versus those paying cash should consider the scarcity of detailed economic data. Accepting vouchers can provide a steady stream of income, albeit at the FMR rate of $1030, and help fill units that might otherwise remain vacant due to high market rates. On the other hand, focusing on cash-paying tenants requires a thorough understanding of the local rental market and the ability to attract financially stable households, which may be limited in an area with unknown median incomes and market rates.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.